Blog Dydd Gwyl Dewi - indycube has become a cooperative
We’ve been talking a lot recently about our quest to become a mutual - a cooperative company owned and run by the community. As of today, these changes are finally taking place, along with some other exciting developments…
We’re opening 6 new spaces - including Wrexham, Treharris, Milford Haven, Chepstow, Porth, and St Davids. We’re also implementing our price increases as of today.
Over the last few weeks, we’ve been letting the community know about these changes; now we want to answer some of the questions you’ve been asking.
Why is indycube mutualising and what does it actually mean?
We’re mutualising simply because we want to give indycube back to the community. Becoming a Community Benefit Society was always part of the plan, and now, six years on, it’s finally the right time for that change to take place.
Becoming a mutual means that all decisions will be democratised - indycube will be jointly owned by its members, who will be able to contribute ideas and elect board members.
I heard a rumour indycube was going to England?
We’ll be opening a coworking space in Wakefield very shortly, branching out by opening our first space over the bridge!
We’re doing this because we’ve found a great place and there’s no reason not to! Our aim in taking indycube coworking spaces to England is to export the things businesses are good at in Wales, such as community values and sharing. indycube is all about conversation, connectivity and serendipity, and we’re hoping to spread these values as far and wide as possible. However, we will remain Welsh in essence, and can guarantee any surplus will be coming back into Wales.
Why do indycube have to increase their prices?
The decision to increase our prices was not made lightly - it was a necessity in terms of maintaining the indycube network and its standards. As we’ve grown and expanded, we’ve seen an increase in housekeeping costs, which has made it essential to raise our rates a little.
Since starting out on March 1st 6 years ago, we’ve never once put our prices up, which makes this a comparatively small increase - it works out at the equivalent of a 3% rise each year.
Going forward, will indycube be looking to finance its business more?
Since the beginning, indycube has been completely bootstrapped. Expansion and growth within the community has been 100% paid for through desk users, from regular members to those who pop in every now and then.
We’ve never asked for any public funds, because there’s been no need to - indycube has always been maintained by the community, with all earnings going back into the pot to better the network. However, as we expand, it’s likely that we may need investment from those who would like to help us to contribute to the community. No doubt they’ll see a great return.
Dydd Gwyl Dewi Hapus i bawb!